Market Sentiment

Greed 72

The website that delivers this data is unfortunately lagging and not loading fully, hence the lack of graph. We do know that the current sentiment is Greed with a score of 72/100. For such a parabolic rise in price, this is a rather low figure and that means the market has further leeway to grow before euphoria kicks in.

Market Indexes

Total Market Cap

Altcoins Market Cap

We voiced very loud opinions about two breakouts on the Alts MCap:

• Breakout from the bear territory - i.e. $110B
• Breakout from the 2017 high

These were two historic breakouts of monumental value. The $1 Trillion target has been achieved. The momentum is strong, especially on Altcoins, which means further price discovery is likely here with the next key level sitting at $2 Trillion.

Bitcoin

Bitcoin's price did not close a weekly candle above $60,000, which would indicate a bearish lower high - except for two factors:

• On-chain data
• Daily timeframe price action

The daily timeframe is indicating strength at the moment. We saw price reclaim $57,565, retest and bounce off it. The next level to tackle is $60,000 which seems likely to be broken out of this time. $57,000 is now support.

Ether

ETH has seen a unique +$1,000 week. The demand is strong at the moment but we're seeing price be limited by the psychological level of $4,000. If/when the latter breaks, it would open up the doors to $5,000.

DOT

DOT reclaimed $40 and turned it into support off of which buyers stepped in. This price action is communicating incoming price discovery for DOT.

SNX

The most probable outcome for SNX is a double-bottom formation as price failed to respect the breakout of $18.25. We speculate the bottom has been set and demand will show up on that second retest of [$12-$14].

RUNE

RUNE turned $16.50 from resistance into support and is stagnating around that level. Usually, such breakouts lead to further upside and large price advances. The next level in sight is $25.

FTT

FTT has re-entered price discovery - as stated previously, FTT under $50 was undervalued and price action was clearly communicating that it wanted to create a new ATH after it reclaim $50 and broke above the counter-trendline. Our personal target for FTT is $100 and it is rather conservative.

SOL

SOL's price action is consolidating between two key levels: $40.75 and $49. A breakout either way will indicate the next move, we speculate it'll be an upside break of $49.

SRM

SRM's price action is still registering higher highs and higher lows which denominates a bullish market structure. Until that changes, we remain in SRM and targeting $20.

RAY

Perhaps the most interesting breakout at the moment out of the assets covered. RAY is offering a very large R:R (Risk:Reward) opportunity in this moment in time. $12.50 is support and the target during Solana SZN is something we speculate to sit at $90.

XRP

XRP registered a new weekly high and is hinting towards further upside. The next key level in sight is $2.

 

Disclaimer: NOT FINANCIAL NOR INVESTMENT ADVICE. Only you are responsible for any capital-related decisions you make and only you are accountable for the results.